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and the national debt. in 1994, he owed russia. the 1982 tax cuts, the bank reforms, that minimized our deductions for health care and let the health care costs skyrocket. then you have the savings and loan crisis. you could not write off your credit-card deductions. host: you were there for much of that debate. guest: a lot of that history that dave is mentioning is correct. there have been a lot of changes going on, ups and downs. the current debate is different, do not forget. after having surpluses at the end of the clinton administration, we went into debt almost a decade ago -- deficits almost a decade ago. the problems have gotten more difficult. at the moment, we have some interesting changes. you talk about 30 years since reagan. the country is getting older, so medicare, medicaid, social security costs more, but we have also had a lot of tax cuts. revenue is at the smallest amount since 1950. if we just got revenue back up to historical average, a deficit would be about $500 billion less than a career that is. the problem with that much more smaller. economists would then say that it is
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